Millennials prefer well-managed housing Space, reveals a survey by Housr

New Delhi, March 3, 2023: A survey by Housr reveals some of the key insights into the housing choices and preferences of millennials.

The survey provides insights into the diverse lifestyles of millennials and their ideal housing preferences. Over 60% respondents prioritize a fully managed space that includes all necessary amenities as their top luxury. 

The survey says that when it comes to travel accommodations, millennials strongly favor high-end properties. Furthermore, the survey underscores the importance of amenities such as 24/7 security, on-site laundry, and concierge services to this generation. Overall, the results showcase the variety of luxury features that millennials value and their desire for hassle-free, well-managed living spaces.

Deepak Anand, Co-Founder & CEO, Housr said, “We are seeing a shift in the way millennials approach housing. They are prioritizing experiences over ownership and are willing to invest in luxury accommodation that offers convenience, style, and security. As the demand for luxury accommodation grows, we are committed to providing millennials with the kind of fully-managed spaces they crave, with all the amenities and services they need.”

The survey also says that more than half of the millennials are willing to allocate over 30% of their income towards a fully managed accommodation, further highlighting the significance of catering to their housing preferences. 

With nearly 40% of millennials choosing to travel as their primary leisure activity, the housing industry needs to adapt and cater to their needs. The survey reveals that 39.48% of millennials go on vacation twice a year, and 25% go once a year. The choice of airlines is an essential factor for their travel plans, with Emirates being the most preferred international airline. For domestic travel, Vistara and Indigo emerged as the most preferred airlines, with a combined preference of over 68%.

As the economy grows, the purchasing power of millennials is also on the rise. The survey reveals that over 87% of respondents prefer premium brands like Ralph Lauren, Coach, Zara, Levi’s, and H&M for shopping. They are also keen on investing their earnings, with 74% of respondents investing in stock markets and mutual funds.

The survey also highlights that 44.86% of millennials choose to stay in 3-4 star properties, 26.26% of people prefer to stay in High-end 5-star properties, and 18.27% of people stay in Airbnb. The need for personalized housing preferences is crucial, and developers need to cater to the diverse needs of millennials.